“The White Company” has done very well for itself in spite of the cryptocurrency bear market.
While the cryptocurrency bear market has ravaged much of the cryptocurrency industry, there are a few corners of the industry that have managed to survive–or even thrive–unscathed. The latest example of this seems to be The White Company, a crypto-concierge service that reported $250 million in transactions over the course of 2018 (not to be confused with the clothing company of the same name.)
The secret may be The White Company’s rather wealthy niche customer base: cryptocurrency millionaires–or rather, anyone who wants to cash out hefty amounts of coins in exchange for luxury goods. “Luxury is not just for the wealthy, and our customers from a variety of ages, incomes, occupations,” said the company’s CEO, Elizabeth White, in a recent interview with Forbes.
The interview said that White and her company have assisted clients in purchasing “Ferraris, Lamborghinis, rare art and jewellery to clients all over the world in exchange for crypto.” Ah, yes, a lambo–the ultimate mark of success in the cryptocurrency industry.